Feel like you’re a prisoner to overpriced auto insurance? Trust us, you’re not the only one.
There is such a variety of insurance companies to pick from, and though it is a good thing to have multiple companies, having more insurers makes it harder to get the best deal.
Companies offer discounts so take them!
Insurance can be prohibitively expensive, but companies offer discounts that you may not know about. Certain discounts will be applied when you quote, but lesser-known reductions have to be specially asked for before you will receive the discount.
- Low Mileage Discounts – Driving fewer miles can qualify you for discounted rates on garaged vehicles.
- Payment Method – If you pay your bill all at once instead of making monthly payments you can actually save on your bill.
- Auto/Life Discount – Larger companies have better rates if you take out life insurance.
- Homeowners Pay Less – Owning a home in Southlake can save you money because of the fact that having a home is proof that your finances are in order.
- Military Discounts – Being deployed with a military unit may qualify for rate reductions.
- Student Driver Training – Require your teen driver to successfully complete driver’s ed class in high school.
- Use Seat Belts – Requiring all passengers to use a seat belt can save up to 15% off your PIP or medical payments premium.
- Distant Student – Any of your kids living away from home attending college and do not have a car may qualify for this discount.
It’s important to note that most discounts do not apply the the whole policy. Most only cut the price of certain insurance coverages like collision or personal injury protection. Just because it seems like you could get a free auto insurance policy, companies wouldn’t make money that way. Any amount of discount will help reduce the amount you have to pay.
Do I just need basic coverages?
When it comes to choosing the best auto insurance coverage, there really is no perfect coverage plan. Every insured’s situation is different and your policy should reflect that. For instance, these questions may help highlight whether your personal situation would benefit from professional advice.
- At what point should I drop full coverage?
- Are split liability limits better than a combined single limit?
- Does my insurance cover a custom paint job?
- Does having multiple vehicles earn me a discount?
- Where can I get insurance after a DUI in Texas?
- Do I need motorclub coverage?
- Am I covered when pulling a rental trailer?
- Is pleasure use cheaper than using my vehicle to commute?
- When should I remove comp and collision on my vehicle?
- Am I covered if I crash into my own garage door?
If you can’t answer these questions but one or more may apply to you, you may need to chat with an insurance agent. If you want to speak to an agent in your area, simply complete this short form or go to this page to view a list of companies.
Do drivers who switch really save $392 a year?
Auto insurance companies such as GEICO, State Farm and Progressive constantly bombard you with ads in print and on television. They all seem to have a common claim that you can save if you switch your coverage to them. How does each company make the same claim? This is how they do it.
Different companies have a certain “appetite” for the driver that makes them money. For instance, a preferred risk might be a mature driver, insures multiple vehicles, and has a high credit rating. A driver who meets those qualifications is entitled to the best price and is almost guaranteed to pay quite a bit less when switching companies.
Drivers who are not a match for this ideal profile must pay a more expensive rate which usually ends up with business not being written. The ad wording is “people who switch” not “everybody who quotes” save that kind of money. That’s the way companies can make the claims of big savings.
This illustrates why it is so important to get a wide range of price quotes. It’s just too difficult to predict the company that will fit your personal profile best.
Much more information about auto insurance in Texas can be found on the website for the Texas Department of Insurance located here. Consumers can find out industry alerts, learn about specific coverages, file complaints about an insurance agent or broker, and view a list of available companies.
What is YOUR best insurance company?
While you’re price shopping online, you should never buy lower coverage limits just to save a few bucks. There are too many instances where someone sacrificed full coverage only to regret at claim time that the small savings ended up costing them much more. The aim is to purchase plenty of coverage for the lowest price while not skimping on critical coverages.
In this article, we presented some good ideas how to reduce auto insurance prices online. It’s most important to understand that the more you quote, the higher your chance of finding lower rates. Consumers may even find the best prices are with a company that doesn’t do a lot of advertising. These smaller insurers may only write in your state and offer lower rates than their larger competitors like State Farm and Allstate.